We assisted a furniture manufacturer who had been advised to proceed into receivership. Through coordination with our sister companies, this business was able to remortgage its factory, appoint a factor company who provided an invoice discounting facility and rebank. With this strategy, we were able to agree a repayment profile of 14 months; repaying circa £86k of Crown arrears.
This company was facing a winding up petition that was due to be presented to the Crown court within 1 week of our instruction. After a discussions with the Crown and submission of the report to them within 1 week of instruction, we were able to agree a repayment profile of 18 months; repaying circa £117k of Crown arrears prior to the court hearing.
This company had informally arranged a prior agreement with the Crown, which it had defaulted. The Crown was in the process of passing the file to the Civil recovery Unit of HMRC. We were instructed to reach agreement to repay £175k. A repayment profile of 22 months was agreed. This company subsequently defaulted again due to unforeseen issues. We were able to negotiate a further period to repay the additional arrears.
This company had experienced a number of issues within its subsidiaries, with arrears totalling circa £300k. Individual negotiations were undertaken and 14 months repayment has been agreed.
This company had not only accrued arrears during its first year of trading but also had built up arrears wihin the owners sole trader business. We were instructed to negotiate both arrear situations that totalled circa £25k. Since the incorporated business was to repay both liabilities, we were able to negotiate an 18 month repayment period.
Due to the loss on large contracts undertaken by the company, a liability of £365k was accrued. We were instructed to review the situation and negotiate with the Crown on a repayment. The advisers were not optimistic and were in the process of introducing an Insolvency practitioner. We were able to achieve an 18 month repayment with the Crown and allow the company to trade through its issues and grow.
Use our Online Enquiry Form or Contact Us on 0800 0735353 to arrange an initial visit with one of our consultants to discuss Crown Debt Rescheduling.
